The marine-insurance market is continuing to soften, with an annual survey of ship-operating costs revealing premium reductions across the board.
Insurance costs were down by 3.2% on average last year across the more than 3,200 vessels included in Moore Stephens’ OpCost analysis of operational expenses.
The reduction compares with a fall of just 0.4% the previous year, with the vast majority of the 23 ship types covered by the survey paying lower insurance premiums.
The
